The answer is job ranking system. This process is
responsible of having to check the worth of each jobs and that they are being
compared from each other in means of having to know their worth and the skills
or responsibility needed when using or assigned to this kind of job.
This is true. They don't necessarily have to be in the same industry however, but it certainly helps.
Answer:
The optimal total annual cost is ≈ $1274
Explanation:
Given:
- Demand (D): 907
- Holding cost (C): $1.82 per jug
- Ordering cost (O) : $17 per order
To find the optimal total annual cost when ordering based on the EOQ, we use the following formula to find the EOQ:
- EOQ =
=
= $130.16
=> annual holding cost (H): 4*EOQ / 2 = 4*130.16 /2 = $260.33
=> annual ordering cost (S) : O*D/EOQ = 1.82*907/130.16 = $12.6
So the optimal total annual cost is:
= 907*$130.16 / $260.33 + $130.16*$12.6/2
≈ $1274